Ooredoo announced at Qitcom yesterday the Ooredoo Exchange concept of a new and innovative blockchain platform for Qatar’s end-users to exchange different digital wallets, loyalty points, and reward programmes from any platform and also make
instant and digital payments.
In Qatar, merchants of any size or industry vertical can quickly and easily get on-board a safe environment that allows them to accept different types of loyalty points and digital wallets.
End-users can turn their digital assets into programme-agnostic digital tokens, which can then be used for any loyalty programme or digital wallet or be converted into digital payments.
Ooredoo Qatar COO Yousuf Abdulla al-Kubaisi said, “In response to feedback from our customers, Ooredoo Exchange aims to solve three main customer challenges: lack of interoperability among different digital wallets and loyalty points, instant payment as another option besides redemption, and get merchants on-board different wallet, loyalty, and reward
programmes faster.”
Ooredoo Exchange is built on R3’s Corda Enterprise, a next-generation blockchain platform, and is developed by IntellectEU, a financial technology consultancy. IntellectEU is a founding member of the Linux Foundation’s Hyperledger collaborative for open source blockchain technologies. Ooredoo Exchange is currently in Closed Beta testing with select partners.
Al-Kubaisi added: “As a secure, innovative, and interoperable blockchain platform, Ooredoo Exchange provides a new level of convenience for organisations and end-users to exchange digital tokens and make instant payments. Ooredoo Exchange aims to transform customer experiences, and also supports financial inclusion and economic
growth in Qatar.”
The Ooredoo stand, under the theme ‘Safe Smart Cities’, is in Hall 7, booth A&B 12 at the Qatar National Convention Centre. Qitcom concludes on November 1.
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